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Loan Amount
$1,351,000
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LTV
69.71%
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Term
12 Months
Transaction Overview
Stormfield funded a $1,351,000 hard money bridge loan for an experienced developer to recapitalize three single-family condominium units in Nashville, Tennessee. The developer built the surrounding community, sold a portion of the homes and retained the remainder as rental properties, and this financing unlocks equity from three of those retained units. The loan is structured at 70% of the $1,930,000 as-is value. Underwriting weighed the rental performance and the Nashville housing market, with the new construction quality and the developer’s familiarity with the community supporting the structure. The deal shows Stormfield’s flexible recapitalization financing.
